Managing Contract Obligations and Insolvency Risk arising from the COVID-19 Outbreak

Ministry of Law, Singapore is spearheading a legislative effort in the form of the COVID-19 (Temporary Measures) Bill (the “Bill”) to offer temporary relief to businesses and individuals facing financial distress in these difficult and uncertain circumstances brought on by the Coronavirus Disease, known as COVID-19.

If the Bill is approved in Parliament this week, these measures will offer eligible businesses and individuals urgent ‘breathing space’ to better manage cash flow and their creditors.

Read more here.

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